. >>> bank of america will pay $33 million to settle sec charges that it misled investors about the buyout of merrill lynch. the bank to told chair holders that merrill agreed not to pay year end bonuses without its consent but they say that bank of america has authorized them to pay $5.8 million in bonuses. >>> don't forget, starting on friday, if you shop at stores in virginia you will be exempt from the 5% sales tax on school supplies priced up to $20 and on clothing and shoes priced up to $100. the sales tax holiday ends on saturday, august -- sunday, august 9th. the islamic saudi academy has been granted approval to expand its site by the board of supervisors. public hearings drew dozens of speakers, many opposed the school saying teachings encouraged intolerance, but students, parent and teachers say that the school does nono teach intolerance. >>> students went back to class at seven fairfax elementary schools on friday. they operate on a modified year round schedule but that calendar is in jeopardy because of a tight budget. the school spends $2.6 million a year to run the program.